Features & Benefits
Requirements: Modern economies and businesses are built on the strength of their ever-growing manufacturing power. If your establishment is producing industrial or household goods, you are probably doing it with machinery that you have heavily invested in. Any sudden or unexpected damage to that can affect your production capability or in extreme situations, stop it completely. In such a situation, a Machinery Breakdown Insurance policy is your best friend and protector.
Benefits:This policy will help your business in dire times. Physical damage to machinery from accidents or unforeseen circumstances can hurt your business by slowing down or altogether halting production. This policy helps you to provide for those heavy additional costs which may have to be paid for repairing or replacing the affected machinery thus avoiding a cash crunch scenario.
Sum Insured: The sum insured shall be the replacement value of the equipment including the cost of duties paid, freight charges and erection costs. In case you want lubrication oils and foundation blocks or brickwork to be covered, their value will be decided separately.
Premium: The amount of premium paid is calculated basis the type of equipment insured and their capacity. Every different machinery type attracts a different premium rate.
Please read the
policy wordings for more information.
*Terms & Conditions apply.